Here are the latest news items and commentary on current economics news, market trends, stocks, investing opportunities, and the precious metals markets. We also cover hedges, derivatives, and obscura. Most of these items are from the “tangibles heavy” contrarian perspective of SurvivalBlog’s Founder and Senior Editor, JWR. Today, we look at farm commodities. (See the Commodities section.)
Precious Metals:
Andre sent us this: Russia Is Now Initiating A Short Squeeze On Gold Derivatives In The West.
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What You Need To Know About Physical Gold Supply And Demand.
Economy, Finance, & Taxation:
Recession ahead! US Treasury yield curve inverts again.
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MSN: Chinese and European markets have seen a massive capital exodus since Russia invaded Ukraine. (Our thanks to C.R.B. for the link.)
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A Stoic Finance video: Two $100 Billion Hedge Funds Just Collapsed…
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Beware of wartime fake news triggering a run, EU banks told.
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Biden pitches largest tax hike in history as part of $5.8T budget request. JWR’s Comment: Take note that Biden’s proposed tax is based on “net worth” rather than annual income. So, if a “land rich” rancher only took a small profit as income, he’d still be taxed at this new confiscatory rate. This sort of tax is what will inevitably cause Atlas to Shrug.
Commodities:
Here it comes, just as I warned: Embargo on! Gazprom Halts Gas Shipments To Europe Via Critical Pipeline.
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How Biden raised gas prices 48% BEFORE ‘Putin’s gas price hike’.
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OilPrice News reports: Russian Crude Continues To Flow Despite Harsh Sanctions.
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Corn Is Out, Soy Is In on U.S. Farms Rocked by Soaring Costs. This article begins:
“Two crops dominate U.S. farming: corn and soybeans. The former requires massive amounts of fertilizer. The latter requires very little. Which is why the astronomical surge in fertilizer prices — they’re up some 27% this year and 130% over the past year — is causing farmers to quickly re-calibrate the amount of each crop they put in the ground this spring. They’ll dedicate about 2 million more acres this year to soy, a Bloomberg survey finds, and about 2 million fewer to corn.”
Inflation Watch:
AP: A key inflation gauge sets 40-year high as gas and food soar.
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Germany Is Getting A Distinct Feeling Of Deja Vu About Its Exploding Inflation.
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U.S. Households Face $5,200 Inflation Tax This Year.
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Inflation Expectations Hit Record Highs As Conference Board Survey ‘Hope’ Crashes To 8-Year-Lows.
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BlackRock’s Kapito Says ‘Scarcity Inflation’ Is Driving Economy.
Forex & Cryptos:
Dollar snaps losing streak and gains on risk-aversion.
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Russia’s Ruble Rebound Raises Questions of Sanctions’ Impact.
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How the West Was Lost: A Faltering World Reserve Currency.
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Australia is rapidly going cashless: ‘Devastating’ decision by Australia’s big four banks impacts 300 suburbs.
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Six months in, El Salvador’s bitcoin gamble is crumbling.
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Ethereum Bullish Signal: 1.2 Million ETH Exited Exchanges Recently.
Tangibles Investing:
An economic shock just hit the housing market. JWR’s Comments: I suspect that we’ve seen the top of the housing market cycle. Redistribute your portfolio, accordingly. This is a good juncture to sell any rental houses.
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The Exodus From US Cities Is Gaining Speed, New Census Data Show.
Provisos:
SurvivalBlog and its Editors are not paid investment counselors or advisers. Please see our Provisos page for our detailed disclaimers.
News Tips:
Please send your economics and investing news tips to JWR. (Either via e-mail or via our Contact form.) These are often especially relevant because they come from folks who closely watch specific markets. If you spot any news that would be of interest to SurvivalBlog readers, then please send it in. News items from local news outlets that are missed by the news wire services are especially appreciated. And it need not be only about commodities and precious metals. Thanks!